Trade what you see NOT what you expect | Page 1107 | Forex Factory

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Trade what you see NOT what you expect

  • #22,121
  • Aug 11, 2009 2:59am Aug 11, 2009 2:59am
Quoting luckylady
Thanks for the chart Ken, I did see that the other day, ok something specific with that chart, if I wanted to risk a total of 3% and I want to put a PO long at 136.60 would you put in multiple small orders and close some out after x number of pips or would you put the whole 3% in one go, and close part after x number of pips?
I think I saw in a previous post that you were a scalper basiclly. the covering as it is called here helps us to stay in trades we would normally just get out of leaving some pips on the table. Just closing some and leaving some running helps us to make more gains. Without any further risk.
Good Trading To All ; Ken Lee
  • #22,122
  • Aug 11, 2009 3:03am Aug 11, 2009 3:03am
Thanks for the explanation Ken, it helped a lot. I will look for your charts dealing with covering and have a good read
  • #22,123
  • Aug 11, 2009 3:06am Aug 11, 2009 3:06am
Quoting KENNETH lEE
As someone mentioned last week the 62 ema 1 Hr. E/J Trade missed the line by 2 pips. Don't miss a good trade for 2 pips.. Everything in trading is a AREA.. Not a bullseye.. EO has stated many times a 10 pip entry before the 62 maybe required.. But normally if you look around you will find some price actio to help you sort it out.

Thanks for that Ken. I was waiting for the touch on the last 1hr EJ although it might come back and retest this candle.

Also started reading the 'Zurich Axioms' pdf you posted. Very interesting.
  • #22,124
  • Aug 11, 2009 3:07am Aug 11, 2009 3:07am
Quoting luckylady
Thanks for the explanation Ken, it helped a lot. I will look for your charts dealing with covering and have a good read

Here you go, Once you click on the chart and get it open you might want to save it to your desktop and use the fax viewr to read it .. It shrank a lot in transition.
Attached Image (click to enlarge)
Click to Enlarge Name: Covering txt charts.jpg Size: 260 KB
Good Trading To All ; Ken Lee
  • #22,125
  • Aug 11, 2009 3:20am Aug 11, 2009 3:20am
Thanks Ken, that saved me hunting - but would have been well worth it, sorry I missed it when you first posted it. Now I am going to do a search on all your posts and read all your lessons Many thanks!
  • #22,126
  • Aug 11, 2009 3:39am Aug 11, 2009 3:39am
35/50 are you missied it..
Attached Image (click to enlarge)
Click to Enlarge Name: gpdusdmisc.jpg Size: 138 KB
Good Trading To All ; Ken Lee
  • #22,127
  • Aug 11, 2009 4:02am Aug 11, 2009 4:02am
hey guys, hows trading been?

been out of the markets for 5weeks now!! holidays!

back now and ready to rock the pips!!

should see some real volatility in the next 4months trade if last couple of years anything to go by, sept should see more volume with all traders coming back from holidays...

daily shows that last three sell offs in normal retracement parameters, cable was overbrought, there is potental to fall abit further although it could base nearer here, got trendline on daily chart going back to march 09, if that breaks then we could see it fall much lower (1.60-1.50 range), price action at moment indicates a interim top has been formed, if that trendline holds then should see move to 1.67-68 range....

weekly chart certainty indicates a further sell off, this weeks close shall be interesting.....

happy trading, will update small timeframe charts and post trades
Attached Image (click to enlarge)
Click to Enlarge Name: cable daily.gif Size: 17 KB
Trading is 80% Emotional, 20% Technical
  • #22,128
  • Aug 11, 2009 4:52am Aug 11, 2009 4:52am
Quoting KENNETH lEE
Here you go, Once you click on the chart and get it open you might want to save it to your desktop and use the fax viewr to read it .. It shrank a lot in transition.
Thanks for this!

Also, great little (free) software I use for stuff like this, don't know if you've guys heard of it - PrimoPDF. It installs as a printer, but instead of printing, it saves any document as a pdf file. Very handy for 'shrunk' documents, and even handier for creating ebooks from any typed text or internet pages :-)
Cable is my sugardaddy
  • #22,129
  • Aug 11, 2009 8:52am Aug 11, 2009 8:52am
Good morning everyone!
Just digging in the trenches like everyone else!
  • #22,130
  • Aug 11, 2009 8:54am Aug 11, 2009 8:54am
I've still got my eye on this h4 trendline
Attached Image (click to enlarge)
Click to Enlarge Name: h4.PNG Size: 48 KB
Just digging in the trenches like everyone else!
  • #22,131
  • Aug 11, 2009 9:00am Aug 11, 2009 9:00am
While everyone is waiting for this tight range were in to break and the h1 hammer to form, I would like to invite all our daily guests to join the factory. It's easy, quick and members do have their benefits. Come on in and join us in our daily discussions of this crazy industry we've all embarqed upon!
Just digging in the trenches like everyone else!
  • #22,132
  • Aug 11, 2009 9:01am Aug 11, 2009 9:01am
Looking at our h1, I believe the bottom tweezers at 6434 are valid vs. the top tweezers we have. The 2nd h1 did go 2 pips higher than the prior h1 tweezer appearance.
Just digging in the trenches like everyone else!
  • #22,133
  • Aug 11, 2009 9:03am Aug 11, 2009 9:03am
Quoting fx local
hey guys, hows trading been?

been out of the markets for 5weeks now!! holidays!

back now and ready to rock the pips!!

should see some real volatility in the next 4months trade if last couple of years anything to go by, sept should see more volume with all traders coming back from holidays...

daily shows that last three sell offs in normal retracement parameters, cable was overbrought, there is potental to fall abit further although it could base nearer here, got trendline on daily chart going back to march 09, if that breaks then we could...
Good to see you fx local! I hope you've been enjoying your holiday and looking forward to getting back into the markets.
Just digging in the trenches like everyone else!
  • #22,134
  • Aug 11, 2009 9:05am Aug 11, 2009 9:05am
The Mistress is showing a lot of love today.
  • #22,135
  • Aug 11, 2009 9:06am Aug 11, 2009 9:06am
Quoting PippiNole
The Mistress is showing a lot of love today.
Do you mind sharing her then? The Mrs. seems to be wore out.
Just digging in the trenches like everyone else!
  • #22,136
  • Aug 11, 2009 9:07am Aug 11, 2009 9:07am
Quoting eohater
Do you mind sharing her then? The Mrs. seems to be wore out.
I'll ask if she is up for a threesome.
  • #22,137
  • Aug 11, 2009 9:14am Aug 11, 2009 9:14am
Quoting PippiNole
I'll ask if she is up for a threesome.
I'm gonna have a peak under the covers at her!
Just digging in the trenches like everyone else!
  • #22,138
  • Aug 11, 2009 9:15am Aug 11, 2009 9:15am
Quoting PippiNole
I'll ask if she is up for a threesome.
She said she may want to go up soon instead of down. Translation- She is at the bottom of a 4hr channel.
  • #22,139
  • Edited 9:23am Aug 11, 2009 9:17am | Edited 9:23am
While I'm looking over at the mistress, please everyone, take note where your h1 50/62 and m15 200 are at. Looks yummy for a nice short out of there. I would not be surprised to see today close flat with a spike north and spike south. I'm not sure today is the day she'll break the 6434 bottom she's trying to create, I could be wrong and I'll add to my shorts when and if we get a close on the m15 under the 6434 with confirmation, but for now, I'm not seeing it. I'm also not seeing a huge break north.
Just digging in the trenches like everyone else!
  • #22,140
  • Aug 11, 2009 9:19am Aug 11, 2009 9:19am
Quoting eohater
While I'm looking over at the misterss, please everyone, take note where your h1 50/62 and m15 200 are at. Looks yummy for a nice short out of there. I would not be surprised to see today close flat with a spike north and spike south. I'm not sure today is the day she'll break the 6434 bottom she's trying to create, I could be wrong and I'll add to my shorts when and if we get a close on the m15 under the 6434 with confirmation, but for now, I'm not seeing it. I'm also not seeing a huge break north.
The h4 150 is kinda there as well along with us being on top of the h4 200.
Just digging in the trenches like everyone else!
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